Enbridge Inc. (NYSE:ENB) Shares Sold by Five Oceans Advisors

Five Oceans Advisors reduced its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,055 shares of the pipeline company’s stock after selling 224 shares during the period. Five Oceans Advisors’ holdings in Enbridge were worth $313,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of ENB. Inscription Capital LLC acquired a new stake in shares of Enbridge during the 1st quarter valued at approximately $685,000. QRG Capital Management Inc. raised its holdings in shares of Enbridge by 21.1% during the first quarter. QRG Capital Management Inc. now owns 9,118 shares of the pipeline company’s stock worth $404,000 after purchasing an additional 1,590 shares during the period. Sagespring Wealth Partners LLC lifted its position in shares of Enbridge by 14.9% in the 1st quarter. Sagespring Wealth Partners LLC now owns 19,203 shares of the pipeline company’s stock worth $851,000 after buying an additional 2,490 shares during the last quarter. Sowell Financial Services LLC boosted its holdings in shares of Enbridge by 9.1% in the 1st quarter. Sowell Financial Services LLC now owns 13,188 shares of the pipeline company’s stock valued at $584,000 after buying an additional 1,099 shares during the period. Finally, Janney Montgomery Scott LLC grew its position in shares of Enbridge by 12.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 1,013,110 shares of the pipeline company’s stock valued at $44,891,000 after buying an additional 113,744 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of ENB opened at $45.95 on Tuesday. Enbridge Inc. has a one year low of $34.60 and a one year high of $47.44. The stock’s fifty day moving average is $45.55 and its 200-day moving average is $44.01. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. The firm has a market capitalization of $100.20 billion, a price-to-earnings ratio of 26.72, a price-to-earnings-growth ratio of 3.92 and a beta of 0.81.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The firm had revenue of $7.27 billion during the quarter, compared to analyst estimates of $10.20 billion. During the same quarter in the prior year, the firm posted $0.92 EPS. Equities analysts anticipate that Enbridge Inc. will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Thursday, May 15th were issued a dividend of $0.679 per share. This is a boost from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date was Thursday, May 15th. This represents a $2.72 annualized dividend and a yield of 5.91%. Enbridge’s payout ratio is presently 139.69%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ENB. Wall Street Zen upgraded Enbridge from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Citigroup assumed coverage on Enbridge in a research report on Friday, April 4th. They set a “buy” rating for the company. National Bankshares reaffirmed a “sector perform” rating on shares of Enbridge in a research report on Monday, May 12th. Raymond James raised shares of Enbridge to a “moderate buy” rating in a report on Wednesday, April 23rd. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a research report on Monday, May 12th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $67.00.

Enbridge Company Profile

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.